OAN’s Alicia Summers
3:41 PM – Wednesday, May 31, 2023
If the House passes the debt ceiling bill today, as Speaker McCarthy believes it will, the bill will then proceed to the Senate where it will require 60 votes before it can be sent to President Biden’s desk.
Here is what is in the bill:
– Caps some non-defense government spending
– Claws back billions in unused COVID-19 funds
– Expanding work requirements for able-bodied, childless food stamps recipients
– Repurposes increased IRS funds
– Student loan payments reinstated
– Climate & clean energy measures stay
– Speeds up energy projects like the pipeline in W. Virginia
– $1.5T in savings over a decade
– Suspends debt limit until Jan.1st, 2025
Tony Drake, CEO of Drake and Associates joins OAN’s Alicia Summers to discuss.